just a re-cap on what may be around the corner, page-6

Nic...I hear you, but in was a simple analysis.

But at comparative stages JORC resource is greater than BND.

Yes they are advanced, but if MTE does dish up 2.5bil resource then what will that resource be in two years time?

Imo at least 4bil+.

What discount would you place on MTE, based on BND MC $517mil less 150mil cash? 30%

imo $1.40 is fair value